Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698927988316.pdf (Namibia)
INTRODUCTION Honorable Speaker and Honorable Members of Parliament I rise to make my budget speech in this august house.
Comrade Speaker I can understand the logic behind the following Travel and Subsistence allocations: Attorney General N$8mln annually for this and the next three years; Safety and Securirty N$14 mln this year but reduceing to N$6mln after two years; International Relations N$l Omln;Justice only N$3mln, BUDGET THEME: SHARED PROSPERITY Comrade Speaker the theme of this year's budget is : SHARED PROSPERITY.

But what exactly does it mean and what are the fundamentals that could lead to its realization.
Comrade speaker this concept in my view is contextual.

Thus it can be possible outside a specific context.

Namibia being a natural resource and agricultural dependent economy has Land as its main factor of production.

Therefore it stand to reason that shared prosperity will be realized by means of fair and equitable distribution of land with obvious imperative of efficient utilization and maximazation thereof.
This view is shared in 'Securing Africa's Land for Shared Prosperity', by Frank F. K. BY AMUGISHA, World Bank, Washington DC has observed that: The continent has abundant land and mineral resources to meet the challenge, but only if land governance can be improved within a ten-point programme to improve land governance. '
Comrade Speaker the question to ponder is how do we begin to share in the v D(+~)()et i Jlprepeity-iftoday's I i ~ marker, embedded within the multigenerational story of dispossession, racial racial and class wealth divide is an economic archeological plunder, genocide, and discrimination?

I quote a readers' letter in the Namibian of24 November 2000 : "We have been fighting for the land, but we still have only pieces of it.
Most of the land is still by exploiting occupied by those who enjoyed a long period of prosperity Namibians.

These people become more prosperous while people such as us, who live in informal settlements, feel hopeless.

The land must be divided equally."


cautions (2000:9) social conflicts, Similalry Comrade Speaker, Werner projection area of potential question has the potential 13 years Some distribution remains an obvious expression of expropriation, extermination settlers and members of the occupation forces.

that, as an obvious land to create or even deepen racial mistrust and hatred.
land oppression and of the African people by German and South African colonists, the complex and emotional after Namibia independence; achieved existing the To repair this breach, for the legacy of racism must be part of the equation.

it's becoming increasingly clear that internal reparations China and Vietnam provide relevant examples.

China in 1978 and Vietnam in 1988 dismantled their collective farms and used long-term leases to allocate land rights to farming households.
These efforts lead to China, achieving a decline in the percentage of people living in extreme poverty from about 80 percent of the population in 1981, the highest in land reform helped in reducing extreme poverty there 2008.
Similarly, Vietnam's in 2008. from 58 percent in the early 1990s to 14.5 percent in the world at that time, to only 13 percent land administration reform programs, combined with other agricultural In Africa, and economic interventions, have done wonders for the economies of Ethiopia and Rwanda.

Both economies have grown at 8-10 percent per year in the last half to 30 decade.
As a result, Ethiopia reduced extreme poverty from over 40 percent in the last 10 years, while Rwanda reduced it from 55 percent percent to 40 in the same period.
percent To dovetail and knit all these together, allow me to bring in the expression of the Land Reform Minister who was quoted in The New Era of March 23, 2018, where he said, in view of the reduction in funds appropriated for land acquisition the Ministry has revised its targets to 224123 hectars for the strategic plan period, in order to match the appropriated amount of N$718 milion.

He further disadvantaged ocean".


into 136 previously being ressetlled over the next five years which is a drop in the when he said: translates lamented "This Diop ( ) Cautioned that few development challenges in Africa are as pressing and as land ownership and its persistent gap between rich and poor controversial as they are that in some countries in the region, these gaps-allied communities, with become unemployment-have large-scale sufficiently wide to undermine shared growth and social cohesion.
poverty rates high and Comrade Speaker in this context, Namibia is no exception and therefore our budget must find allocation to the resolution of the Land question in all its facets as a top priority.

Comrade Speaker and Members of the August House, clearly there is a dis- connect between the budget vision of Shared Prosperity and what obtains on the ground.
SOVEREIGN WEALTH FUND PROPOSED FOR NAMIBIA A Sovereign Wealth Fund (SWF) gives Governments access to liquid assets they countries, can draw on in times of need, which is crucial for resource-dependant vulnerable to commodity price shocks.

A fund ofthis nature also meant for future generations' welbeing.

to consider Comrade Speaker with this topic I had many thoughts and reflections over several months.
I therefore feel obliged during this budget discussion to make a proposal for Namibia for the reasons as : These days, everyone wants a advanced by Andrew Bauer who said that sovereign wealth fund (SWF).

"The label sovereign wealth fund sounds sexy.

'Norway has one, Chile has one, Qatar has one, we want one too,' is what we are hearing a lot" from African leaders.

to establish one.
to establish one.

Obviously not is informed by other considerations In contrast my proposal including benefits that could be had over the years, such as: to put aside and invest surplus revenues, so they can be used when finite resources such as diamonds, uranium, copper and gold in giving government access to liquid assets as referred to above; a well-managed SWF boosts credit ratings and lowers borrowing costs; it also raises a country's profile: where there institutions will queue up to know more.
is money to invest, bankers and financial to act as fiscal stabilization mechanisms run out; Comrade Speaker, IMF) urged for a 'rainy day fund' just for eurozone.

this week Christine Lagarde (Managing Director of the that found expression in an opinion piece by Alfredo Tjiurimo A local sentiment Hengari, stated recently that with the benefit of historical hindsight, we did not prepare ourselves adequately during the commodity boom, which marked a period of sustained economic growth up until 2012.
In part, it is why we are where we are today.

It is why President Hage Geingob is pulling the Namibian wagon in the direction of bold reforms and actions to set our country on a path of sustainable development and shared prosperity.

that have had successes and so forth (see attached Countries Norway SWF).

As far as the foreign they are being invested by Temasek Holdings, both domestic overseas.

liquidity The central reserves.


as well as foreign include Singapore, list of African Botswana, countries having a reserves of Singapore are concerned, by three entities: GIC is the largest, bearing in mind that Temasek Holdings followed has assets whereas the GIC invests only bank itself holds foreign assets as part of its GENOCIDE SOVEREIGN lOO-YEARS-PLUS WEALTH FUND Comrade Speaker this is another wealth fund that need to be explored.
This is in the context of the ongoing Genocide Reparations Negotiations.

The bottom line is that people of our generation should never be quilty of having squandered the proceeds of the reparations money to the detriment of the future generations of the victims of Genocide a hundred or more years to come.
of distributive My idea has benefited from works of The Intergenerational Justice which I am happy to paraphrase as it broadly states that depending on the understanding of the relevant principles if there is an conflict of interests, present generations may be obliged by intergenerational that may impose an unfair considerations stand intergenerational under obligations of intergenerational justice: They are obliged not to violate the rights of future generations.

distribution of costs and benefits.


Present generations to pursue policies to be applied, of justice not justice Much as this might be a new innovation in the Namibian context, I view this as an idea worth and intergenerational exploring justice into account.
the twin concepts redistributive taking of Dr Esther Stanford-Xosei during her public lecture delivered recently in Namibia opined that if reparations benefits are not structured in ways that will positively and meaningfully impact the seventh generation (about hundred and fivety years from now), then we can as well be regarded as having stolen from the future generations.
This is an idea that naturally should find acceptance particularly amongst the communities affected by genocide and dispossesed, as much as Government will need to develop interest, as broad benefits will impact society at large.

GENOCIDE REPARATIONS NEGOTIATIONS FUND fees to establish this Fund was acted upon, we could have Ifmy proposal of2012/13 of the so-called British lawyers exorbitant avoided the current embarrassment by the Public Accounts (N$50mln) legal Committee.
The haphazard payment methods and the multiple funding sources could have been avoided.

This indicates that proper budgetary planning was not in place and the expenses were not anticipated or coordinated.

investigation now under exists resolution for government further.

Parliamentary Resources to enable Government and the concerned communities to engage the Germans should have been put aside.
Negotiations for genocide reparations could still prove to be expensive, more especially if you engage an unwilling partner.

DNA tests are necessary to confirm certain facts and research to ascertain historical information also need to be funded.

to take this process Since reparations demand is the State of Namibia's obligation in the interest of its citizens, such costs should come from the State Revenue Fund.
Once again in this budget, provision in this respect does not seem to have been adequately made, to meet this State obligation, hence it falls short of meeting state requirements.
FUNDING FOR CONSTRUCTION OF GENOCIDE MEMORIAL CENTRES Following my introduction of the motion to rename the Independence Memorial Museum to Genocide Remembrance Centre, an understanding was reached that between Government in the 2012/2013 Budget and in subsequent government was to budget budgets of memorial centers at all genocide sites in the for the construction country.
and SWANU MP, and noted by this August House, for, even affect cannot though we Memorials are a way of acknowledging past individuals as victims of egregious wrongs such cannot be expressed face to face with the dead victims.

acknowledgement However, memorials may be in form of a public speech, a day in the official calendar, a conference, a public space or a monument-for example, a sculpture has done none of these or an installation.
To my recollection Government memorials in honour of the Genocide victims but selectively in honour of the victims of the Swapo liberation struggle victims.

their well-being.

Also, Let the Government honour its promise before non-performance State of Namibia.

embarrasses the OPTIMAL INVESTIGATION NEEDED REVENUE FROM MINERAL RESOURCES-AN The 'Market Watch' of30 October 2017 carried an article "Govt wants maximum benefits from natural resources ", had me thinking - it was quite late!
I This has been my call since 2012, where in my budget debate contribution, expressed the optional contribution that mining ought to make to State revenue.

The then-Ministers of Finance and Mines and Energy did not take me seriously.

the need for an independent study to determine can derive from mining.
"It has been revealed that over Again in 2014, I made the call in my budget statement contribution for the study, there are vast benefits as I stated the following: Namibia the main the decades beneficiaries of the vast mineral resources have been private corporations and other economies other than Namibians.

during last year's budget statement, an independent study to be conducted to determine the optimal contribution mining ought to make to the State Revenue is necessary.
I make the call once again here.

As I have re-emphasised However, Mineral resources have the potential Namibia. "

for social and economic development of The same goes for my Budget Contribution in 2015. out specific areas of investigation, had to say then: I even went further to point this study should interrogate.

This is what I "Even in the midst of vast economic and resources Namibia is not only technologically poverty and joblessness.

'paradox of plenty '.


cum endowment, backward but wallow in neck-deep This is what has come to be known as the The study could specifically focus on the following areas of investigation: • Transfer, Pricing, Royalty Payments, Leading and Lagging Payments, Inter Company Loans, Re-Invoicing, Structure, Parallel Financing Counter or Barter Trade. "

ALLOCATION TO THE MINISTRY OF DEFENCE I refer you to page 112 of document the Ministry of Finance rely on these gaps?
This is what we call 'tjitanga kaorere ngo' .... ; unreliable figures, loopholes, how did in Otjiherero Since the Ministry of Defense is not in the ordinary business of buying farms, how did the Tender Board or Procurement Board give exemption to the Ministry If to acquire the farms Oropoko and Otjizemba without a Cabinet Resolution.

indeed they had one how was it then possible that the Chairman of Cabinet was not aware of this procurement?
following Recently some three years or so ago the budget of Defense was increased significantly Standing Committee, Now that we know that the objective has not been achieved why should we not regard the clandestine and also wasteful expenditure?

in order to renovate and upgrade dilapidated barracks.

purchase of the farms as fruitless a Parliamentary recommendation by a This is a scandal of embarrassing proportions to the State for which a Presidential Commission of Enquiry is needed urgently.
This is also aggrevated by the fact the Defense subsidiaries have never rendered any report to the National Assembly creating suspicion as to whether tax payers' money has been put to good use or not.

REFERENCES 1.

Frank F. K. Byamugisha is an Operations Adviser and Lead Land Specialist in the Africa Region of the World Bank.
The article is based on a book he authored, Securing Africa's Land for Shared Prosperity, published and launched by the World Bank in July 20l3: http://publications.worldbank.org/19810.

2.

Makhtar Diop: is the World Bank Group's Vice Presidentfor Africa the rights of land registration and legal recognition Scaled-up squatters on public lands, would improve lives of 3.
IntergenerationaI Justice First published Thu Apr 3, 2003; substantive 2015 revision Mon Aug 10, APPENDICES African Sovereign Wealth Funds 2013 By Shalifay Dec 20,2013 investment African sovereign wealth funds and national funds have been gaining in prominence over the past few years.

The FT this week did a special feature on finance and banking in Africa, which you can find here.
All the articles are well worth a read but one centered on SWFs in Africa; despite their size lagging SWFs funds in Africa have been in Asia and the Middle East, national growing steadily thanks to the development ofprimary industries (mostly oil) and better fiscal discipline.

investment investment While these types of funds normally look to make international investments like Nigeria's foray into US fixed income this year, they can also be a big player in local equity markets.
More developed Asian countries have shown that these funds can be used to prop up local equity markets in times of national need, such as Hong Kong during the Asian financial crisis in 1998.

More recently, we have seen the impact that government funds can have in Rwanda, fund owned by the ruling political party, where Crystal Ventures, recently announced they would unload their stake in MTN, telecom company in the country.
the investment the largest investment We've compiled an up-to-date list of African sovereign wealth and investment funds.

The ones we saw online were incomplete, listed several countries that have proposed sovereign wealth funds but have not seeded them with capital yet (Kenya, Sao Tome & Principe, South Sudan, and Tanzania).
and we've Here's the complete list of African sovereign wealth funds: (Updated as of Dec 2013) Country Fund Name Assets ($ Mio) Since Notes Algeria for Fund Regulation Receipts (FRR) the of 77,200.0 2000 Funded by oil & gas profits Angola Fundo Soberano de Angola (FSDEA) 5,000.0 2012 7.5% of fund to social projects Botswana Pula Fund 6,900.0 1994 Funded by diamond profits Chad Oil Management Plan Revenue - 2003 Created with WorId Bank, in 2008 scrapped Equatorial Guinea Fund for Generations Future (FFG) 80.0 2002 Funded by 0.5% of all oil revenues Gabon Fonds Souverain de la Republique Gabonaise (FSRG) 380.0 Funded by oil profits Ghana Petroleum Holding Fund 72.0 2012 Funded by oil profits, Ghana to flows Heritage and Stabilisation Fund Fund Kenya 120.0 2014 Mining proposed, initial expected, minerals Bill 2013 Sh10 bio start-up funded by Libya Libyan Authority (LIA) Investment 65,000.0 2006 Funded by oil & gas profits Mauritania Fonds National des Revenus des Hydrocarbures (FNRH) 300.0 2006 Funded by oil & gas profits Nigeria Soverien Nigeria Investment Authority 1,000.0 2011 Rwanda Crystal Ventures 500.0 2009 to Funded by oil profits, funds: 3 flows Stabilisation, Future Generations, Infrastructure Fund Owned by Rwanda Patriotic Front (RPF) Sao Tome and Principe National Account Oil South Sudan Revenue Oil Stabilization Account, Generations Fund Future - - If oil discoveries are 2004 made, profits will go towards this account 15% of oil profits go Stabilization to 2013 Account, 10% to the Generations Future Fund Tanzania Natural Reserve Fund Gas - 2013 Funded by gas